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← MATERIAL INNOVATION INSTITUTE

Form 990 for tax year 2024

Filed by MATERIAL INNOVATION INSTITUTE.

Totals

Total revenue
$231,821
Total expenses
$734,725
Contributions and grants received
$221,785
Grants paid
$0
Program service revenue
$10,000
Investment income
$36
Other revenue
$0
Total assets, end of year
$378,523
Total liabilities, end of year
$4,186
Net assets or fund balances, end of year
$374,337
Program services expenses (Part IX)
$396,933
Management and general expenses
$200,550
Fundraising expenses
$137,242
Program service expenses (Part III)
$396,933

Program services were 54.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $221,785

  • 2a · Program service revenue: ANNUAL CONFERENCE

    total $10,000 · related or exempt $10,000

  • 3 · Investment income

    total $36 · excluded $36

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $134,527 · program services $60,575 · management and general $28,055 · fundraising $45,897

  • 7 · Other salaries and wages

    total $150,270 · program services $69,143 · management and general $30,794 · fundraising $50,333

  • 9 · Other employee benefits

    total $6,862 · program services $1,853 · management and general $1,886 · fundraising $3,123

  • 10 · Payroll taxes

    total $27,923 · program services $15,884 · management and general $4,422 · fundraising $7,617

  • 11b · Fees: legal

    total $54,872 · management and general $54,872

  • 11c · Fees: accounting

    total $26,070 · management and general $26,070

  • 11e · Fees: professional fundraising services

    total $10,640 · fundraising $10,640

  • 11g · Fees: other

    total $186,334 · program services $153,756 · management and general $31,391 · fundraising $1,187

  • 12 · Advertising and promotion

    total $4,838 · program services $4,045 · management and general $793

  • 13 · Office expenses

    total $5,943 · program services $339 · management and general $3,300 · fundraising $2,304

  • 14 · Information technology

    total $86,260 · program services $64,103 · management and general $10,344 · fundraising $11,813

  • 17 · Travel

    total $28,323 · program services $22,594 · management and general $3,359 · fundraising $2,370

  • 19 · Conferences, conventions and meetings

    total $1,678 · program services $1,663 · management and general $15

  • 23 · Insurance

    total $4,288 · management and general $4,288

  • 24a · Other expenses: DUES AND SUBSCRIPTIONS

    total $5,756 · program services $2,861 · management and general $938 · fundraising $1,957

  • 24e · All other expenses

    total $141 · program services $117 · management and general $23 · fundraising $1

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $366,204 · end of year $146,661

  • 2 · Savings and temporary cash investments

    beginning of year $10,520 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $490,885 · end of year $226,131

  • 9 · Prepaid expenses and deferred charges

    beginning of year $13,070 · end of year $5,731

  • 15 · Other assets

    beginning of year $17,599 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $19,423 · end of year $4,186

  • 27 · Net assets without donor restrictions

    beginning of year $580,061 · end of year $374,337

  • 28 · Net assets with donor restrictions

    beginning of year $298,794 · end of year $0

Mission and programs · 2024

Mission

TO ACCELERATE THE AVAILABILITY OF HIGH-QUALITY, HIGH-PERFORMANCE, ANIMAL-FREE, AND ENVIRONMENTALLY PREFERRED MATERIALS.

Activities or mission (Part I)

TO PROMOTE SUSTAINABLE AND ANIMAL-FREE MATERIALS IN THE FASHION, HOME GOODS, AND AUTOMOTIVE INDUSTRIES IN ORDER TO PROTECT THE ENVIRONMENT AND ANIMALS AND TO MITIGATE CLIMATE CHANGE.

  • MATERIAL INNOVATION INSTITUTE (MII) WORKS TO IDENTIFY AND ASSIST COMPANIES AND TECHNOLOGIES IN BUILDING AND IMPROVING MATERIALS THAT CAN REPLACE ANIMAL-DERIVED MATERIALS (E.G., LEATHER, REPTILE SKIN, ETC.) IN THE FASHION, AUTOMOTIVE, AND HOME GOODS INDUSTRIES. MII ALSO WORKS TO IDENTIFY POTENTIAL RELATIONSHIPS BETWEEN INVESTORS AND COMPANIES AND TECHNOLOGY IN ORDER TO OBTAIN THE FUNDING NECESSARY TO MAKE ANIMAL-ALTERNATIVE MATERIALS MORE ACCESSIBLE AND ENGAGES IN CONTRACTS WITH BRANDS TO ASSIST IN INCREASING THEIR ALTERNATIVE MATERIAL CACHE AND ADDRESSING HOW THE MATERIALS CAN BE USED. MII'S COMMUNICATIONS DEPARTMENT EDUCATES COMPANIES AND INDIVIDUALS IN THE FASHION, HOME GOODS, AND AUTOMOTIVE INDUSTRIES, AS WELL AS EDUCATING THE PUBLIC.

    Expenses $396,933 · Revenue $10,000

As filed on the 2024 return.

Listed in Part VII

  • AMY ROSENFELD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • ELIZABETH NOVOGRATZ

    DIRECTOR (THRU MARCH)

    Total calculated
    $0
    Hours/week
    2

  • JACQUELINE KRAVETTE

    PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • JOHN BARTLETT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • KIRSTY STEVENSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • LINNE CAUDELL

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    3

  • NAOMI SACHS

    DIRECTOR (THRU MARCH)

    Total calculated
    $0
    Hours/week
    2

  • NICOLE RAWLING

    CHIEF EXECUTIVE OFFICER (THRU JULY)

    Total calculated
    $82,609
    From this org
    $77,709
    From related orgs
    $0
    Other
    $4,900
    Hours/week
    50

  • CORTNEY BUSCH

    CHIEF OPERATING OFFICER (BEG JULY)

    Total calculated
    $51,957
    From this org
    $49,457
    From related orgs
    $0
    Other
    $2,500
    Hours/week
    50

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
25 February 2025
IRS schema version
2024v5.0
Source object
202500589349300615

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